Stealthgas Inc Stock Price, News & Analysis

StealthGas Inc. (NASDAQ: GASS) announced its unaudited financial results for Q4 and the full year ended December 31, 2021, reporting significant operational metrics. Fleet utilization stood at 98.3% with operational utilization at 96.1%. The company reported a net loss of $38.7 million for Q4 21, compared to a loss of $0.7 million in Q4 20, largely due to a $40.2 million impairment charge from a spin-off. Adjusted net income was $2.8 million, with total revenues of $36.1 million, down 3.2% year-over-year. Despite challenges, StealthGas secured approximately $70 million in contracted revenues for 2022.

StealthGas Inc. (NASDAQ: GASS) announced it will release its fourth quarter and annual operating and financial results for the year ending December 31, 2021, before the market opens on March 8, 2022. A conference call is scheduled for the same day at 11:00 am ET to discuss these results and the company's outlook. Participants can join via US and UK toll-free numbers or through the archived webcast on the company's website. The company operates 44 LPG carriers with a total capacity of 434,444 cubic meters and has one newbuilding on order for mid-2023.

StealthGas Inc. (NASDAQ: GASS) reported its unaudited financial and operating results for Q3 and nine months ending September 30, 2021. The company successfully completed the spin-off of four tankers into Imperial Petroleum Inc. Fleet utilization reached 97.4%, with voyage revenues of $37.5 million, a 1.1% increase compared to Q3 2020. Net income stood at $1.2 million, with an EPS of $0.03. For nine months, revenues totaled $114.2 million, up 6% YoY. However, net income decreased to $3.6 million from $12.7 million in 2020. Cash on hand was $57.3 million, with low leverage at 36.6% debt to assets.

StealthGas Inc. (NASDAQ: GASS) will announce its third quarter and nine-month financial results for the period ended September 30, 2021, on December 8, 2021, before market opening in New York. A conference call will be held at 11:00 am ET the same day to discuss the results and company outlook. Interested participants can join via specified toll-free numbers, and a telephonic replay will be available until December 15, 2021. StealthGas operates 45 LPG carriers, with a total capacity of 437,973 cbm, and has one newbuilding Medium Gas Carrier on order, expected for delivery in mid-2023.

StealthGas Inc. (Nasdaq: GASS) announced the successful spin-off of its subsidiary, Imperial Petroleum Inc., effective December 3, 2021. Shareholders received shares of Imperial Petroleum common stock and preferred stock based on their ownership of StealthGas shares as of November 23, 2021. The spin-off aims to create value by separating operations within the liquefied petroleum gas shipping sector. Important legal disclosures are noted, emphasizing no solicitation for securities under any circumstances. StealthGas operates a fleet of 45 LPG carriers, enhancing its position in the market.

StealthGas Inc. (Nasdaq: GASS) announced a spin-off of Imperial Petroleum Inc., with a record date of November 23, 2021. Shareholders will receive one common share and one 8.75% Series A Preferred Share of Imperial Petroleum for every eight and forty-eight shares of StealthGas, respectively. The expected distribution date is around December 3, 2021, subject to regulatory approval. Fractional shares will be aggregated and sold, with net proceeds distributed to shareholders. This transaction aims to enhance shareholder value while restructuring operations.

StealthGas Inc. (NYSE: GASS) announced a spin-off of its three product tankers and one Aframax tanker through a new subsidiary, Imperial Petroleum Inc. This transaction aims to create two focused shipping companies, enhancing investor appeal. The spin-off, expected to finalize in early December 2021, requires SEC approval and will involve the distribution of Imperial's shares to GASS shareholders. The board believes this separation will clarify market positioning and attract new investors. However, no assurances are provided regarding the transaction's completion or terms.

STEALTHGAS INC. (NASDAQ: GASS) reported its Q2 2021 financial results with revenues of $39.2 million, an 8.0% increase from $36.3 million in Q2 2020. The net income was $1.6 million, or $0.04 per share, down from $8.9 million or $0.23 per share year-over-year. EBITDA decreased to $14.2 million from $21.8 million. The fleet utilization rate reached 98.1%, while about 74% of fleet days are secured on charters for the rest of 2021, generating projected revenues of $66 million.

StealthGas Inc. (NASDAQ:GASS) announced it will release its second quarter and six months operating and financial results for the period ending June 30, 2021, ahead of market opening on August 25, 2021. A conference call is scheduled for the same day at 11:00 am ET to discuss the results and company outlook. The company operates a fleet of 50 vessels, primarily serving the liquefied petroleum gas (LPG) sector, with a total LPG capacity of 441,488 cbm. This includes 46 carriers and additional product tankers.